Teaching Toddlers Financial Responsibility

Impossible, you say? No way. You may not be able to teach a toddler to spend money wisely, but you can make sure that the first lesson they learn about financial responsibility is saving. That, and not putting money in your mouth…

I’m a big believer in both of the major schools of teaching toddlers just about any behavior: playing and conditioning. So we’ve made saving money a game for Hayden—a game that we repeat every time he finds a coin.

Usually I try to give him a little savings “pep talk” after depositing his coins: piggy’s going to hold them for us so we can get something we want later. Of course he doesn’t understand delayed gratification or even what money is for, but his first experience with money is one of saving—and it’s a positive experience, too. It’s not a bad precedent to set.

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8 responses to “Teaching Toddlers Financial Responsibility”

  1. Michelle says:

    That is super cute!

  2. mcewen says:

    Lummy! The child’s a genius! If mine ever should money, they’d just try and eat it, even now! Maybe I’ve been feeding them too many chocolate pennies as bribes..
    Best wishes

  3. Jordan says:

    We’re still waiting for his first solid stock tip. He keeps telling us to buy Delta. ;)

  4. Laura says:

    What a great idea! By the time he’s older saving will be second nature for him.

  5. Elaine says:

    Good for you! Baby steps to financial responsibility.

  6. Michelle says:

    You’ll have to check back in a couple years and tell us if it’s stuck with him—he’s obviously got a good thing going.

  7. Jordan says:

    Definitely. I’m floored by how much you’ve taught your children about this, Michelle—I can only hope to teach Hayden half as well as you have taught your children!

  8. Jo Beaufoix says:

    Hayden is so cute.

    You don’t realise how money aware they can be.

    Yeterday Miss M aged two ut some plastic pennys in her Mickey Mouse bag ad tol me it was her dinner money.
    She must have seen me putting Miss E’s in her dinner wallet and decided she wanted some too.

    It’s such a good idea getting them saving so early.

    I’ll have to give it a go.

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